Crescent Capital BDC (NASDAQ:CCAP) Sees Large Volume Increase Following Dividend Announcement

Crescent Capital BDC, Inc. (NASDAQ:CCAP) saw an uptick in trading volume on Thursday after the company announced a dividend. 167,409 shares traded hands during mid-day trading, an increase of 90% from the previous session’s volume of 88,297 shares.The stock last traded at $19.15 and had previously closed at $20.00.

The newly announced dividend which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, February 28th. Crescent Capital BDC’s dividend payout ratio is presently 84.42%.

Analysts Set New Price Targets

Several brokerages have weighed in on CCAP. Keefe, Bruyette & Woods lifted their price objective on Crescent Capital BDC from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Wells Fargo & Company dropped their price objective on Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.17.

Crescent Capital BDC Price Performance

The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.26 and a current ratio of 1.32. The company has a market cap of $682.46 million, a price-to-earnings ratio of 9.25 and a beta of 0.81. The business has a fifty day moving average price of $19.43 and a 200 day moving average price of $18.87.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Crescent Capital BDC had a return on equity of 11.90% and a net margin of 37.32%. The business had revenue of $46.40 million for the quarter, compared to analyst estimates of $47.27 million. As a group, research analysts anticipate that Crescent Capital BDC, Inc. will post 2.09 earnings per share for the current year.

Hedge Funds Weigh In On Crescent Capital BDC

Institutional investors and hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in Crescent Capital BDC by 174.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 47,264 shares of the company’s stock worth $874,000 after purchasing an additional 30,018 shares in the last quarter. Franklin Resources Inc. increased its holdings in Crescent Capital BDC by 35.2% in the 3rd quarter. Franklin Resources Inc. now owns 256,279 shares of the company’s stock worth $4,726,000 after purchasing an additional 66,713 shares in the last quarter. Stifel Financial Corp increased its holdings in Crescent Capital BDC by 53.1% in the 3rd quarter. Stifel Financial Corp now owns 66,470 shares of the company’s stock worth $1,230,000 after purchasing an additional 23,055 shares in the last quarter. Sun Life Financial Inc. grew its position in shares of Crescent Capital BDC by 20.7% in the 3rd quarter. Sun Life Financial Inc. now owns 2,226,308 shares of the company’s stock valued at $41,187,000 after buying an additional 382,542 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Crescent Capital BDC in the 3rd quarter valued at about $1,899,000. Institutional investors and hedge funds own 49.46% of the company’s stock.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.